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Drought in December cut soybean yields in Goiás by as much as 10%, particularly in the south of the state, while Paraná was largely spared. AgRural lowered its estimate of Brazil's soybean crop to 116.9 million tons from 121.4 million tons in November due to dry conditions in the southern soy belt.
A reduced Brazilian soybean crop tightens global oilseed supply, supporting soybean meal and soybean prices for feed buyers.
datamarnews.comFeb 6, 2019After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
